U.S. New Home Sales Decline Slightly in September, Outperforming Market Expectations
U.S. new home sales fell by 0.6% month-over-month in September to a seasonally adjusted annual rate of 676,000 units. While this represents a slight contraction, the figure was higher than the consensus estimate of 615,000 units and slightly lower than the revised prior reading of 680,000. The data, released by the U.S. Census Bureau, suggests that while the housing market is experiencing some cooling, it has not decelerated as sharply as analysts had anticipated. This comes amid broader discussions regarding rising house price indices and legislative efforts to address housing affordability.
Topics: FHFA House Price Index New Home Sales Real Estate Policy U.S. Census Bureau